“In June, the estimated year-on-year change in the New Housing Construction Cost Index (ICCHN) was 12.9%, a rate lower by 0.6 percentage points (p.p.) than that observed in May. Material prices increased 17.2%, decelerating 1.6 p.p. compared to the previous month and the cost of labour increased by 6.9% (6.2% in May)”, reads the INE bulletin.

According to the same source, “the cost of materials contributed 10.0 p.p. for the formation of the year-on-year rate of change of the ICCHN (11.0 p.p. in May) and the labour component increased its contribution to 2.9 p.p. (2.5 p.p. in the previous month)”.

Ceramic product prices soar

INE also adds that ceramic products were, among the various materials, the ones that grew the most in year-on-year terms: around 80%.

Steel, wood and wood derivatives, carpentry works and PVC pipes showed year-on-year growth of over 20%.